Open Banking now is more important than ever before 🚀; FinTech giant Block tanks on the attack from shortseller Hindenburg 😳; Checkout.com goes into issuing 💳

FinTech is Eating the World, 24 March

Hey Everyone,

TGIF! What a week it was… 😳 And it’s not over as today we’re looking at Open Banking (& why it’s now more important than ever before), Block that tanks on the attack from short-seller Hindenburg (some things are definitely not right but it’s not about the allegations), and Checkout.com that went into issuing (why it’s a good move). Let’s jump straight into the interesting stuff 🌶

Open Banking now is more important than ever before 🚀

The macro 👀 As the cost of living continues to rise and inflation takes hold, consumers are getting increasingly nervous and always looking for better alternatives. Both in their regular and financial lives. This is exactly where Open Banking comes into play as OB payments could offer a valuable tool for consumers to manage their finances more effectively.

The USP 🥊 Open Banking payments give consumers greater visibility, transparency, and control over their finances and data. OB platforms usually direct consumers to their banking app, where they can see their financial position and make informed purchase decisions. The payment is approved instantly, and the money leaves their bank account immediately, giving them access to their true real-time balance.

But the benefits of Open Banking payments are not limited to consumers. Businesses find value in OB as well.